First Time Home Buyer Tips

At Galindo Group, we love homes so much that we made it our business! We want everyone to love their first home! There are a lot of important decisions and considerations before you take the plunge into homeownership–let Galindo Group be your guide, with our first time home buyer tips!

Mortgage Tips for First Homes

First thing’s first: the mortgage! Too often people jump right into looking at homes before considering what they can afford, and end up disappointed with the homes within their actual budget. Nervous about being a first time home buyer with bad credit? Check with your local credit union or bank: there may be more opportunities than you think!
Think carefully about the following elements to calculate your ideal mortgage payment:

• • Down payments: 20% is the standard, although that has changed a little in recent years. Just remember: the more you pay now, the less you’ll pay long-term!
  • Closing costs: after applying for a mortgage and finding a home, you’ll have to pay an additional fee to close your mortgage, typically 2-5%.
  • Moving costs: these can add up, depending on where you’re moving, how you’re moving, and when!
  • Potential repairs: it’s wise to add in a little padding for potential repairs. It’s always better to be prepared!

After thinking about all of these costs, shop around for mortgages. Everyone gives different rates, and most banks or credit unions will pre-approve you for an amount before you go looking for a house. By getting pre-approved for a mortgage you’ve carefully thought through, you can be free to look within that range and find the perfect home!

Finding an Agent or Broker

Finding a partner in the real estate industry can be vital to the buying process. Choose an agent or broker who spends time with you, who has the same high standards you do, and someone with extensive experience. You might need more help than you think, especially since this is your first time buying a home! A good real estate company can guide you toward options, neighborhoods, and homes you might not have found otherwise!
Trust is crucial. Make sure you choose to go with someone you trust, but more importantly: someone whose track record proves that you can trust them! At Galindo Group, we pride ourselves on helping people find their dream homes, and our extensive experience can help you navigate real estate that much more easily.

What Do You Want in Your First Home?

Now the fun part! You’ve been imagining living in a home for months, maybe even years–you’re ready to start looking! Here are some basic considerations to help you on your house hunt, and to help your real estate company know more about what you’re looking for:

• • Neighborhood
    • If you have children or will have them eventually, safety and schools are number one priorities.
      
    • Is your new location close enough to work, or is it going to expand your commute time?
    • Are you a homebody, or someone who likes to go out on the town?
  • Size
    • Do you need room to grow?
    • Do you need extra room for guests, hobbies, or pets?
    • It’s not always about larger: sometimes a smaller house is a better fit, depending on your needs and personality!
  • Amenities
    • There are a lot of fun extras that anyone can add to a house, including hot tubs, pools, saunas, game rooms, theater rooms, and extra outbuildings for storage or hobbies.
      
    • Even if you’re not ready now, you might want them later! Is there room on the property to expand?
  • Mortgage
    • As you’re house shopping, keep your mortgage in the back of your mind.
    • Maybe you’re willing to look at smaller homes, and use your mortgage for repairs or amenities.
    • Maybe there’s more wiggle room in your loan than you expected, and you can afford that beautiful five-bedroom!

When thinking about your home, don’t just think about today: think about the future! While it’s impossible to plan for everything, you should be able to get a sense of your daily life within the property itself.

Official Inspections for First Homes

You’ve found the house, and it’s wonderful. It’s exactly what you were looking for–maybe even better! But there’s one more thing that we recommend for every home buyer: an inspection! Schedule a professional home inspector to look at structural elements, plumbing, electrical, HVAC, and the rest of your home. Just be forewarned: they don’t have to move furniture or plants to look at parts of the home, they often don’t climb in crawlspaces or on roofs, and they won’t look for pests, mold, or other specialized issues. These require separate inspections.

Professional Advice for First Time Homebuyers

Feeling overwhelmed? Give Galindo Group a call! When you buy a home with us, we’ll walk you through every step, making sure you’re comfortable with every element of your future home. If you’re ready to step into the next phase of your life, contact us today!

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